The dealer shows a small number: the monthly. The real number is the total plus the years.
New-car loans are around 7% APR. Edmunds Q2 2026: average payment $777, amount financed $44,156, term about 70 months, lifetime interest a record near $9,811. Almost 24% of buyers stretched to 84 months or longer. Stretch the term and $299 looks cheap. $0 down is not free. You can owe more than the car.
Friday's jobs print came in hot at 162,000. The Fed does not pick your car APR — a hot print can still keep the rate sticky. Ask for the total and the years. Not financial advice. Not a lender pitch. Educational and entertainment only.
Sources
Edmunds Q2 2026 auto finance
Experian State of the Automotive Finance Market Q2 2026
BLS Employment Situation August 2026
CNBC jobs report September 4, 2026
Bankrate — Fed vs auto loans explainer
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